1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Andrei [34K]
3 years ago
8

Swifty Corporation records all prepayments in income statement accounts. At April 30, the trial balance shows Supplies Expense $

2,700, Service Revenue $9,400, and zero balances in related balance sheet accounts. Prepare the adjusting entries at April 30 assuming: (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) (a) $800 of supplies on hand and (b)$3,200 of service revenue should be reported as unearned
Business
1 answer:
Lemur [1.5K]3 years ago
6 0

Answer:

Apr. 30

Dr Supplies Expense $1,900

Cr Supplies $1,900

Dr Unearned Service Revenue 3200

Cr Service Revenue 3200

Explanation:

Preparation of the adjusting entries at April 30

Based on the information given the adjusting entries at April 30 will be :

Apr. 30

Dr Supplies Expense $1,900

Cr Supplies $1,900

($2,700-$800)

(Being to record supplies on hand)

Dr Unearned Service Revenue 3200

Cr Service Revenue3200

(Being to record Unearned Service Revenue)

You might be interested in
Emily Casper earns a weekly salary of $785. How much will she make after four weeks?
OleMash [197]

Answer:

$3140

Explanation:

It is given that,

Weekly salary of Emily Casper is $785. We need to find her earning after 4 weeks. It is a type of question based on the unitary method.

1 week = $785

4 week = 4 × $785

= $3140

Hence, her salary after 4 weeks is $3140.

7 0
3 years ago
What is the size of the payments that must be deposited at the beginning of each 6-month period in an account that pays 8.6%, co
Burka [1]

Answer:

The answer is $86,167.57 (to 2 decimal places)

Explanation:

In this question, we are to calculate the present value of a certain amount that is compounded semiannually, and after 10 years, yields a future value of $200,000. To calculate this, we will use the formula for calculating present value as follows:

PV = FV ÷ (1+\frac{r}{n})^{n*t}

where:

PV = present value = ???

FV = future value = $200,000

r = interest rate in decimal = 8.6% = 0.086

n = compounding period pr year = semiannually = 2

t = time of compounding in years = 10

Therefore,

PV = 200,000 ÷ (1+\frac{0.086}{2})^{2*10}

PV = 200,000 ÷ (1.043)^{20} = $86,167.57

3 0
3 years ago
ABC Lumber spent $1,000 cutting down a tree. The result was 40 unfinished logs that sell for $20 each and 100 bags of sawdust th
CaHeK987 [17]

Answer: below

Explanation:

- The sawdust should be sold as is without being processed into Presto

Logs.

- The pieces of unfinished lumber should be processed

8 0
3 years ago
If a stadium sells 40,000 seats sold at $20, $22.50, and $25 and $28 equally distributed in four sections, how much can be made
Ksenya-84 [330]
Section A = 22,500 seats
section B = 14,900 seats
section C = 7,600 seats
7 0
3 years ago
Paul Abdul Oil Corporation (PAOC) began as a relatively small oil company. As PAOC has grown, the company has gained a highly tr
hoa [83]

Answer: organic

Explanation: Paul Abdul Oil Corporation (PAOC) would be said to have an organic structure. An organic organization structure is one that is decentralized, as such it provides employees the opportunity to engage in business-related decision making; is highly adaptive; and allows for  communications and interactions among employees at all levels. It is therefore more suited to creative businesses, businesses that are facing unstable environments and therefor must adaptive and creative.

8 0
3 years ago
Other questions:
  • "financing activities" Creative Sound Systems sold investments, land, and its own common stock for $35.0 million, $15.5 million,
    9·1 answer
  • Suppose a bond with a 10% coupon rate and semiannual coupons, has a face value of $1,000, 20 years to maturity and is selling fo
    14·1 answer
  • Which of the following accounting strategies (for financial reporting purposes) is the least likely for a firm that is currently
    13·1 answer
  • If at the time of partnership liquidation, a partner has a $5,000 capital deficiency and pays the partnership $5,000 out of pers
    8·1 answer
  • Which one of the following statements concerning the balance sheet is correct? Total assets equal total liabilities minus total
    10·1 answer
  • The __________ theory suggests that people will evaluate the cost, benefit, or value related to making a change in a particular
    8·1 answer
  • At December 31, 2021 and 2020, Sheridan Company had 171000 shares of common stock and 12000 shares of 7%, $100 par value cumulat
    8·1 answer
  • A lawyer cannot represent both the plaintiff and the defendant because of
    10·1 answer
  • Recently, the cable television networks have bombarded viewers with a variety of shows based around teams that come in to redeco
    7·1 answer
  • The extra costs incurred to avoid holding cash when there is inflation are called the?
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!